Noble Energy (NYSE:NBL) received a $35.00 price target from investment analysts at Morgan Stanley in a research note issued on Thursday, TipRanks reports. The firm currently has a “buy” rating on the oil and gas development company’s stock. Morgan Stanley’s price target would indicate a potential upside of 46.75% from the stock’s previous close.
NBL has been the subject of a number of other research reports. Barclays raised shares of Noble Energy from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $26.00 to $33.00 in a research note on Tuesday, April 30th. UBS Group set a $34.00 target price on shares of Noble Energy and gave the company a “buy” rating in a research note on Wednesday, February 20th. TD Securities decreased their target price on shares of Noble Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, May 6th. Raymond James set a $32.00 target price on shares of Noble Energy and gave the company a “buy” rating in a research note on Wednesday, January 23rd. Finally, Mizuho raised shares of Noble Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $28.00 to $29.00 in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nineteen have issued a buy rating to the company. Noble Energy currently has a consensus rating of “Buy” and a consensus target price of $38.19.
Shares of NYSE:NBL traded down $0.65 during trading on Thursday, reaching $23.85. 2,738,724 shares of the company traded hands, compared to its average volume of 6,019,485. The firm has a market capitalization of $11.55 billion, a P/E ratio of 26.50 and a beta of 1.38. Noble Energy has a 1-year low of $17.11 and a 1-year high of $37.76. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.66.
Noble Energy (NYSE:NBL) last issued its earnings results on Friday, May 3rd. The oil and gas development company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1 billion. Noble Energy had a negative net margin of 19.63% and a positive return on equity of 2.05%. The company’s quarterly revenue was down 18.2% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. Equities research analysts expect that Noble Energy will post 0.09 earnings per share for the current fiscal year.
In related news, Director James E. Craddock sold 9,000 shares of Noble Energy stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $23.62, for a total value of $212,580.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.81% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its position in Noble Energy by 2.7% during the 3rd quarter. Legal & General Group Plc now owns 2,308,676 shares of the oil and gas development company’s stock worth $72,046,000 after acquiring an additional 61,047 shares during the last quarter. Ipswich Investment Management Co. Inc. acquired a new position in Noble Energy during the 4th quarter worth $75,000. Virtu Financial LLC lifted its position in Noble Energy by 31.5% during the 4th quarter. Virtu Financial LLC now owns 27,379 shares of the oil and gas development company’s stock worth $513,000 after acquiring an additional 6,565 shares during the last quarter. Ayalon Holdings Ltd. acquired a new position in Noble Energy during the 4th quarter worth $33,000. Finally, Lavaca Capital LLC acquired a new position in Noble Energy during the 4th quarter worth $528,000. 98.57% of the stock is owned by institutional investors and hedge funds.
Noble Energy Company Profile
Noble Energy, Inc, an independent energy company, engages in the acquisition, exploration, development, and production of crude oil, natural gas, and natural gas liquids worldwide. The company owns, operates, develops, and acquires domestic midstream infrastructure assets in the DJ and Delaware Basins.
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